The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged newly awarded Petroleum Prospecting Licence (PPL) holders to fast‑track development of
The Nigerian Upstream Petroleum Regulatory Commission has urged newly awarded Petroleum Prospecting Licence holders to fast‑track development of their assets and prioritise host‑community obligations, warning that failure to meet work programmes and statutory commitments could trigger enforcement under the Petroleum Industry Act.
NUPRC chief executive, Oritsemeyiwa Eyesan, made the call in Abuja on Friday, during the signing ceremony for winners of the 2022/2023 Mini Bid Round and the 2024 Licensing Round, saying licensees must meet safety, environmental and financial standards while engaging responsibly with host communities to boost exploration, investment and Nigeria’s oil production targets.
“As licencees, you are expected to execute your approved work programmes diligently, honour your financial commitments, comply fully with the provisions of the PIA, the applicable regulations and theses contractual documents. “The Commission equally expects the highest standards of health, safety, environmental protection and responsible engagement with host communities,” the NUPRC boss said.
The NUPRC boss said the licensees awarded under the 2022/23 Mini Bid Round and the Nigeria 2024 Licensing Round are expected to stimulate exploration activities, attract additional investment, accelerate the development of Nigeria’s hydrocarbon resources and contribute meaningfully to the nation’s energy security and economic development. These objectives, she said, are closely aligned with the Federal Government’s strategic aspiration to increase Nigeria’s crude oil production to 2 million barrels per day by 2027, while positioning the country to achieve a long-term production target of 3 million barrels per day by 2030.
In his presentation, the Executive Commissioner, Development and Production, Engineer Enorense Amadasu, urged the awardees to adhere to their work programmes and commitments. He said the Commission had begun to speed up approvals for permits in order to improve the ease of doing business. Amadasu added that the Commission was ready to give them full support and enable them to succeed.
Also speaking, the Commission Secretary and Legal Adviser, Barrister Olayemi Adeboyejo, advised the new awardees to develop their assets or risk losing them in line with the “drill or drop” provision backed by the Petroleum Industry Act. Tinubu Cracks Down On Crypto Fraud, Sets Up Virtual Assets Council She advised them to embrace alternative dispute resolution and less of litigation in order to ensure a harmonious relationship with both operators and regulators.
Companies that were presented with their licences at the venue include: Biswal Oil and Gas Ltd, Dewayles International Ltd, First E&P development Co.Ltd, Panout Oil and Gas Ltd, R28 Holdings Ltd and Hakilat Oil and Gas Consortium. Broron Energy Limited, Petroli Energy Marketing and Supply Limited Sahara Deepwater Resources Limited and Tulcan Energy E&P had received their licences earlier on July 8, 2026 We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone.
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CLICK HERE TO STARTNse Anthony-Uko is a business and financial journalist with over two decades of experience covering Nigeria's financial system, economy, energy sector, corporate landscape, and global economic developments. Her expertise blends frontline journalism with editorial leadership and a strong grasp of financial market dynamics. She has earned multiple professional recognitions and was selected for the International Visitors Leadership Programme in the United States.
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